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A United Nations committee adopted nine principles to create a global bankruptcy process for countries. Nobel Laureate Joseph Stiglitz addressed the final session of "The UN Ad Hoc Committee on Sovereign Debt Restructuring" that the UN General Assembly established last fall. Countries currently cannot access bankruptcy protection when they face economic crisis. The World Bank notes that 49 countries face worrying levels of debt distress and the International Monetary Fund notes debt is the ro...

At the end of yet another «historic» marathon session Brussels negotiations between the Greek government and its creditors, a «definitive» agreement has yet again been found to «resolve" the Greek crisis: Greek Prime Minister Tsipras and his team have come to accept as a condition for new loans to the virtually bankrupt Greek government, a plan of austerity measures significantly harsher than he had rejected a week earlier and against which he had, supposedly, held a referendum! The only poin...

Muchos le gritan traidor a Tsipras, entre ellos las corrientes de “extrema-izquierda” que afirmaban no guardar ninguna ilusión en Syriza y su gobierno. Pero solo pueden sentirse traicionados aquellos que tomaron en serio los discursos demagógicos de Syriza y su jefe....

Pope Francis called for an international bankruptcy process in a news conference as he left Latin America on Monday. According to the Associated Press, when asked about the Greek debt crisis, Francis stated, "if a company can declare bankruptcy, why can't a country do so and we go to the aid of others?" Francis offered further comments noting that too many countries are struggling with high debts and he suggested a United Nations bankruptcy proposal could be the solution.‎...

European negotiators agreed unanimously to a new financing deal with Greece. The deal includes up to $96 billion in new loans to Greece in exchange for economic reforms, including austerity measures. Greece can reschedule its debt under the deal but cannot receive debt relief. Greece's parliament and Eurozone parliaments must approve the deal....

The following statement is issued by various progressive individuals and organizations from many parts of the world, but mostly in Asia-Pacific. A copy of the statement has already been sent to Syriza's international department....

El referendo es una forma del ejercicio democrático en la toma de decisiones del estado a partir de la sociedad civil y desde ya se convierte en un triunfo histórico....

In recent years, the term "fascism" is heard more and more. With the growing epidemic of police killings, mostly of people of color, with the intentional maintenance and growth of the largest prison system in the world (with practically a political guarantee of recidivism), with police making lethal demands for obedience, with the increasing corporate technological destruction of land and oceans, and with the constant obsessions with war (a misnomer for massacre from a distance), the term "fa...

UN negotiators struggle to find consensus on debt, trade and tax policies on the last day of scheduled negotiations before heads of state, business leaders and development organizations meet for the July Financing for Development (FfD) conference in Addis Ababa, Ethiopia....

Larry Summers once mused that Africa was "underpolluted' and thus "inefficient", but not anymore. Chuck Mertz reads the history and introduces a new 4 hour episode of This Is Hell....